With the bull market approaching, crypto whales have increased their rate of accumulating Cardano, Solana, and Pullix coins. This has resulted in a significant price increase for all three currencies. Let’s see why these three have emerged as the best altcoins for whales.
Cardano (ADA) Network Activity Affects Price Positively
Cardano (ADA) has been on a price rally in the past week thanks to increased trading activity on the Cardano network. At the moment, investors are feeling positive about the Cardano network. Usually, these price changes follow what is happening in the market and how the Cardanoecosystem is growing.
The Cardano coin is expected to climb higher if its price remains over $0.6 and continues to develop. This will, however, depend on if investors remain involved and if more developments on the Cardano network occur.
According to CoinMarketCap, the Cardano coin price has grown by more than 55% from a 7-day low of $0.399927 to $0.631526. If the upward momentum continues, the ADA coin might reach $0.7.
Solana (SOL) Regains Momentum To the $70 Level
On Monday, the price of Solana (SOL) dropped to $66. However, it has since gone up and is now around $70. This increase is due to strong DeFi activity in the Solana ecosystem. In the last two months, the Solana price has gone up about five times.
According to DeFiLlama, the volume of stablecoins on the Solana blockchain has increased. The figure is now $1.676 billion, up 8% from last week. Solana’s price has risen 17.9% in the last week, according to CoinMarketCap.
The price of Solana increased from a 7-day low of $60.19 to a high of $77.32. The SOL token has gained 445.7% year to date. If the bullish momentum continues, the Solana coin could rise to the next resistance at $78 and then $89.
Pullix (PLX) Merges The Benefits of Centralized and Decentralized Exchanges
Since 2021, traders have been looking for platforms to trade using cryptocurrencies as collateral. This reduces the need for KYC checks and offers access to OTC derivatives trading. Enter Pullix, a platform that offers these advantages and more.
Pullix is a new DeFi project launching a hybrid exchange that combines the strengths of both centralized and decentralized exchanges. The platform has a concept called “Trade-to-Earn.” Here, users who hold their native token, $PLX can earn a share of the daily revenues generated by the exchange.
However, this opportunity is exclusively available to PLX token holders. This makes PLX one of the best altcoins to go for currently. This community-driven platform aims to offer a user-friendly and comprehensive solution for all types of traders.
Pullix also supports yield farming, staking, and liquidity provision. All these are methods through which individuals can earn more tokens. The Pullix token is currently up for sale at $0.042 per token. Experts expect the price of the token to soar 580% during the presale phase.
Conclusion
Cardano and Solana are among the top gainers currently in the crypto space. Nevertheless, the new DeFi project, Pullix, is worth considering as it introduces a new concept to trading. Traders get rewarded for trading and receive a portion of the platform’s daily revenue. This makes tokens a must-have for every investor or trader.
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Source: https://cryptodaily.co.uk/2023/12/crypto-whales-shift-holdings-cardano-ada-and-solana-sol-surge-pullix-plx-emerges-as-top-contender